December 26, 2024
In a finance department, the journey of an invoice usually begins with a flurry of emails, paperwork, and spreadsheets. The AP process flow is riddled with inefficiencies that consume valuable time and resources.Teams spend hours manually entering data, cross-verifying details, and ensuring compliance with GST regulations. Errors in accounts payable invoice processing lead to delayed
November 6, 2024
What is an Invoice Management System (IMS)?An Invoice Management System (IMS) in the GST framework allows recipients to manage invoices submitted by suppliers in their GSTR-1, GSTR-1A, or IFF filings. Using IMS, recipients can review the invoices and choose to accept, reject, or keep them pending to ensure accurate Input Tax Credit (ITC) claims. This
November 6, 2024
October 14, 2024, marks a significant turning point for businesses under GST. The introduction of the Invoice Management System (IMS) is intended to change how companies manage their GST invoices and Input Tax Credit (ITC) claims. In this blog, we will dive into the latest updates regarding the IMS, analyze its essential features, and discuss how
July 8, 2024
Effective July 4th, 2024, the government has introduced several enhancements to address-related fields in GST registration functionalities, including New Registration, Amendment Application (Core & Non-Core), and Geocoding Business Addresses. These changes are based on user feedback and analysis of reported issues.In this blog, we will cover the updates, as well as the benefits and challenges
July 8, 2024
The 53rd GST Council meeting brought several significant updates that directly impact taxpayers. While the official updates can sometimes be heavy on jargon and technical details, let’s break down what’s truly in it for you, the taxpayer.Reduced Compliance BurdenOne of the standout announcements is the reduction in compliance requirements for small businesses. The GST Council
June 27, 2024
As Malaysian enterprises gear up for the mandatory adoption of e invoice Malaysia, the transition brings both opportunities and challenges. The shift to digital invoicing promises improved accuracy, faster processing times, and enhanced compliance, aligning with Malaysia’s broader digital transformation agenda. However, large enterprises often face significant pain points during this change, including integration complexities,